It would be free of DEBT,,, But the bank gets any money collected UP TO THE AMOUNT of DEBT, so they will keep bidding until the bid gets close too or AT/ above the DEBT.  That gives the bank a "clear title" to sell the property.   2nd lien holder has the right bid more than the 1st lien holder to protect their interest, same with 3rd, 4th, so on.  But if they are not willing/able to "dig that deep" the 1st lienholder has the property "free & Clear" of any & all lien's other than Tax liens.

You could play "High roller " for about the 1st $50,000,000, & maybe more if you wanted. But I bet the bank would go the $143,000,000 before it let you buy it.  For some reason they then can sell it for less after "things get cleaned up" than they can let it go for in the 1st place.